There are many different things to music than just been a good singer, or one who produces hits. Sure, singing will get you fame and attention, most atimes money too. But this can't equal the money you can use your influence to face and foster, which is running or having a business. In music, talent is not just enough! You need something to sustain that talent with, and business is just that paramount option. Here you will get to know what made Jay Z to be ranked as the richest rapper in the world, simply because he does own businesses, and not that he can really rap alone.
__________________
Shawn Corey Carter, known professionally as Jay-Z, is an American rapper, songwriter, record producer, entrepreneur, and record executive. Jay-Z has established himself as a successful entrepreneur with a business empire spanning a variety of industries from clothing lines, beverages, real estate, sport teams, and record labels. In an interview, he stated that "my brands are an extension of me. They're close to me. It's not like running GM, where there's no emotional attachment."Jay-Z and Damon Dash are the founders of the urban clothing brand Rocawear. Rocawear has clothing lines and accessories for men, women and children. The line was taken over by Jay-Z in early 2006 following a falling out with Dash. In March 2007, Jay-Z sold the rights to the Rocawear brand to Iconix Brand Group, for $204 million. He retains his stake in the company and continues to oversee the marketing, licensing and product development. He also co-owns the 40/40 Club, an upscale sports bar that started in New York City and has since expanded to Atlantic City and Chicago. In 2008, the 40/40 club in Las Vegas was closed down and bought back by the hotel after attendance steadily declined. In 2005, Jay-Z became an investor in Carol's Daughter, a line of beauty products, including products for hair, skin, and hands. In September 2013, his stake in Barclays Center was sold for $1.5 million.
Jay-Z serves as co-brand director for Budweiser Select and collaborates with the company on strategic marketing programs and creative ad development. He provides direction on brand programs and ads that appear on TV, radio, print, and high-profile events. He is also yet to expand his 40/40 Club sports bar in as many as 20 airports, as he makes deals with his business partners, Juan and Desiree Perez. He is a part-owner of the Brooklyn Nets NBA team, having paid a reported $4.5 million for his share, which declined in value to $350,000 in April 2013. He encouraged the team's relocation to Brooklyn's Barclays Center (from New Jersey) in the 2012–2013 season, at which point the team took on the Brooklyn Nets moniker. In October 2005, he was reported in English media as considering buying a stake of Arsenal F.C., an English soccer team. He has also invested in a real estate development venture called J Hotels which recently acquired a $66 million mid-block parcel in Chelsea, New York. Jay-Z and his partners are contemplating constructing a high-end hotel or an art gallery building on the newly acquired site which has the potential to go up about twelve stories.Through his conglomerate company Gain Global Investments Network LLC, he had an interest estimated between 2 and 7% in the Aqueduct Entertainment Group (AEG) consortium, which in January 2010 was awarded a contract to operate a 4,500 slot machine racino at the Aqueduct Race Track. Jay-Z became interested in the project after New York Governor David Paterson who awarded the contract said there had to be an affirmative action component to the ownership. Jay-Z initially approached by casino mogul Steve Wynn who was also bidding on the contract. On March 9, 2010, Jay-Z and Flake withdrew from the project and Paterson recused himself from further involvement.
On November 16, 2010, Jay-Z published a memoir entitled Decoded.
In April 2011, it was widely reported that Jay-Z had outbid executives at Universal Recordsand Jive Records to acquire independent record label Block Starz Music.
Jay-Z is also credited as the executive producer of the basketball video game NBA 2K13, where he worked on the look and feel of the game along with its soundtrack.
On April 2, 2013, ESPN Jay-Z launched his own sports agency, Roc Nation Sports, with a focus on the representations of various professional athletes. The sport managementgroup will work as partners with Creative Artists Agency. In conjunction with the agency's launch, New York Yankees's second baseman Robinson Canó left agent Scott Boras to sign with the company. Sources have mentioned that Jay-Z himself is planning to be a certified sports agent, first in baseball and eventually in basketball and football. In order to represent clients in basketball, he would have to give up his small share of the Brooklyn Nets.On April 18, 2013, Jay-Z officially announced through his Life + Times website in a press release that he will be relinquishing his ownership in the Brooklyn Nets.The shares were eventually sold to singer, rapper, actor and entrepreneur Will Pan, making Wilber the first American of Taiwanese descent to own a US professional sports franchise. Jay-Z's cited Wilber's athletic background (he was a team captain of his high school basketball team and played in college), his multitude of musical styles, his influence in the Taiwanese American community, and his business acumen and portfolio (including being the founder and chief executive of software company Camigo Media and a co-founder of streetwear boutique N.P.C [New Project Center]), as reasons why his bid was successful.
In 2014, Jay-Z invested $200 million in Armand de Brignac champagne owned Sovereign Brands, a New York-based wine and spirits company for a 100 percent stake, making it the second alcoholic product acquisition in his financial investment portfolio. The brand is known for its popularity with high-profile artists as being the gold bottles often referred to in media. His ties to the company date back to 2006, and he received millions of dollars per year for his association with Armand de Brignac before he bought the entire company.
In March 2015, Jay-Z completed the $56 million acquisition of Aspiro, a Norwegian media technology company that operates the subscription-based music streaming service Tidal, which has been in operation since October 2014.The music service was acquired through his company Project Panther Bidco Ltd. (an entity indirectly owned by Jay-Z's S. Carter Enterprises a company holding interests in leading international music, media and entertainment companies). The acquisition was completed with the help of Mooreland Partners, a leading global technology-focused M&A advisory firm, which acted as financial advisor to Aspiro.The music service combines lossless audio and high definition music videos with curated editorial. The main idea of the service is to bring major revenue streams back to the music artists themselves as the idea of an artist-owned streaming platform was stated as to "restore the value to music by launching a service owned by artists." Jay-Z currently is a major shareholder in the company.
Parlux fragrances sued Jay-Z for $18 million for the failure of his cologne, Gold. They claim the cologne's failure is due to Jay-Z not doing social media posts and interviews about the cologne. Parlux claims they projected selling $15 million the first year, and $35 million the second, and subsequent years after the launch. The fragrance sold $14 million the first year and $6.1 million the second. Parlux supposedly lost money on the venture and have had constant returns of unsold inventory.
In July 2015, Carter made a significant investment to JetSmarter, an app helping people book private executive plane flights. The app was built by Sergey Petrossov.Jay-Z collaborated with Cohiba to launch his own cigars.[172]
In 2016, he signed a two-year exclusive film and TV Deal with Weinstein Company and with the deal gives them first-look options to create scripted and unscripted TV projects and film projects, and those projects were in works. Also part of his deal with Weinstein company, he produced a documentary series on the life of Kalief Browder who was imprisoned for three years and committed suicide upon his release. He also addressed racial profiling and police brutality in a conscious manner.
Comments
Post a Comment
Have something to say?